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How to Do a Tax-Deferred Exchange on Investment Property
Ordinarily, when you sell property for a profit and receive cash, the taxman is there to take his cut. A 1031 tax-deferred exchange on investment property allows you to roll over the gain from the sale...
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How to Pay Back Taxes in Installments
You've prepared your income tax return and you discover that you owe more than you can afford to pay right now. Send in your tax return with a contract to pay in monthly installments.
View ArticleHow to Determine if You Paid Too Much Social Security Tax
Employees who hold more than one job in a year sometimes overpay on Social Security tax. Any Social Security tax paid on more than $76,200 in 2000 is refundable.
View ArticleHow to Distinguish Between Injured Spouse and Innocent Spouse
Filing a joint tax return can be an advantage for some couples, but it also increases the risk borne by each spouse. You may find your refund being withheld because of a debt your spouse incurred prior...
View ArticleHow to Determine if Social Security Benefits Are Taxable
Social Security benefits are not taxable if your income is below a certain level.
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How to Avoid a Tax Audit
Some people think of a tax audit as any type of inquiry from the IRS, and they dread receiving any mail with the IRS's return address. Even more frightening is a letter requesting a meeting. Including...
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How to Calculate Gross Income for Tax
Gross income can be defined as the income from all sources prior to any deduction or taxes. From a company's perspective it has to be total revenues earned after deducting the cost of sold goods. In...
View ArticleHow to File an Income Tax Extension
It's close to April 15 and you need time to finish those dreaded income taxes. Don't fear--the government allows for an extension. The following tips will assist you in receiving the additional time...
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How to Determine Taxability for Business Purchases
Determining whether your business purchases are taxable requires some research. There are over 10,000 taxing authorities across the country with different tax rates and exemptions for myriad goods and...
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How to Get a National Insurance Number
According to UK law, everyone over the age of 16 who works in Britain (even if their work is unpaid) must be in possession of a unique National Insurance number. This number is used by HM Revenue &...
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How to Fill and File IRS Form 5500
IRS Form 5500 must be filed each year for every pension-benefit plan or entity that participates as a Direct Filing Entity (DFE) in certain trusts, accounts or other arrangements. Generally, the...
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